Job Description
Location Sydney, Australia Job type Full-Time Work mode Hybrid Job level Management & Leadership Job ID 11820 Company Munich Re Employment type Regular Area of expertise Client & Customer Management
Since its formation as a stand-alone division of Munich Re in 2023, Munich Re Specialty (MRS) has the ambition to become a profitable top-10 global primary Specialty insurer. Complementing an already strong presence in the UK and the US, Munich Re Specialty - Global Markets (MRS-GM) has been tasked with expanding our primary Specialty business in continental Europe and APAC. We have begun the European expansion journey, and are now ready to launch our expansion in APAC, starting with Australia.
Responsible for building and managing a sustainably profitable short‑tail insurance portfolio across Australia and New Zealand, overseeing the technical underwriting and product development, and ensuring strong alignment with Munich Re Specialty’s strategy. Responsible for monitoring market trends that can shape strategy, maintaining robust underwriting frameworks, collaborating with global and local leaders, and fostering strong broker and client relationships while leading and developing a high‑performing underwriting team.
Your Role
Portfolio Management
Build and manage a profitable short‑tail portfolio in Australia and New Zealand, with an initial focus on Property and Construction & Engineering.
Shape and deliver business plans for short‑tail classes in alignment with MRS-GM objectives and risk philosophy.
Achieve targeted business mix and performance goals set by Group CUO and senior leadership.
Technical Underwriting Excellence
Direct and oversee all technical underwriting activities for short‑tail classes, ensuring high standards of technical proficiency that are compliant with Munich Re standards.
In close collaboration with other MRS-GM functions, support the build-out of local underwriting tools and processes to enable the delivery of business plans.
Maintain and execute underwriting authority delegations and referral processes for short-tail classes.
Monitor insurance market trends to adjust underwriting policies and strategies, as needed.
Underwriting Framework & Product Development
Collaborate with the Head of Underwriting Australia to build a robust underwriting framework for short-tail classes in accordance with Munich Re Specialty best practices.
Lead product development, including creating and maintaining rates, rules, and policy forms, collaborating closely with Group Product Heads.
Collaboration & Stakeholder Engagement
Work closely with underwriting leadership and global product heads to ensure consistency and alignment.
Leadership & Talent Development
Coach, lead, and develop a high‑performing underwriting team.
Play a key role in attracting, recruiting, and retaining underwriting talent.
Lead by example, embracing and instilling the cultural milestones of Munich Re Specialty in the local underwriting and broader teams.
Your Profile
Leadership & Strategic Capability: Demonstrated ability in an executive leadership position in a “Head of” role
Strategic and forward‑thinking, with a proven track record in business management, including planning and forecasting
Possesses integrity, credibility and strong commitment to the corporate mission
Market Presence & Industry Influence: Reputation and gravitas to represent Munich Re Specialty in the market
Strong broker network
Proven record of building and maintaining sustainably profitable portfolios
Technical & Analytical Expertise: In‑depth knowledge of exposure and experience rating processes
Strong negotiation skills
People Leadership & Stakeholder Management: Excellent people skills, including stakeholder management
Excellent communication (written, verbal, presentation), interpersonal and networking skills at all organisational levels
10+ years primary insurance underwriting experience
5+ years of people management experience
University degree and/or relevant professional qualification
At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the center of this interaction is each of us.
Your Benefits
With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.
Competitive Salary
We provide fair and competitive compensation that reflects your performance and commitment.
Company performance-based Incentives
In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.
Recognition and Special Rewards
We recognise outstanding individual contributions through a variety of targeted rewards and incentives.
Retirement Planning
We support your long-term financial wellbeing with retirement solutions aligned with local regulations.
Inclusive Workplace Culture
We foster a respectful, inclusive, and values-driven environment.
Learning & Development
We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.
Work-Life-Balance
Supporting your ability to balance family, leisure, and your career.
Health & Wellbeing
We support your physical and mental health through a range of programs and activities in each location.
Since its formation as a stand-alone division of Munich Re in 2023, Munich Re Specialty (MRS) has the ambition to become a profitable top-10 global primary Specialty insurer. Complementing an already strong presence in the UK and the US, Munich Re Specialty - Global Markets (MRS-GM) has been tasked with expanding our primary Specialty business in continental Europe and APAC. We have begun the European expansion journey, and are now ready to launch our expansion in APAC, starting with Australia.
Responsible for building and managing a sustainably profitable short‑tail insurance portfolio across Australia and New Zealand, overseeing the technical underwriting and product development, and ensuring strong alignment with Munich Re Specialty’s strategy. Responsible for monitoring market trends that can shape strategy, maintaining robust underwriting frameworks, collaborating with global and local leaders, and fostering strong broker and client relationships while leading and developing a high‑performing underwriting team.
Your Role
Portfolio Management
Build and manage a profitable short‑tail portfolio in Australia and New Zealand, with an initial focus on Property and Construction & Engineering.
Shape and deliver business plans for short‑tail classes in alignment with MRS-GM objectives and risk philosophy.
Achieve targeted business mix and performance goals set by Group CUO and senior leadership.
Technical Underwriting Excellence
Direct and oversee all technical underwriting activities for short‑tail classes, ensuring high standards of technical proficiency that are compliant with Munich Re standards.
In close collaboration with other MRS-GM functions, support the build-out of local underwriting tools and processes to enable the delivery of business plans.
Maintain and execute underwriting authority delegations and referral processes for short-tail classes.
Monitor insurance market trends to adjust underwriting policies and strategies, as needed.
Underwriting Framework & Product Development
Collaborate with the Head of Underwriting Australia to build a robust underwriting framework for short-tail classes in accordance with Munich Re Specialty best practices.
Lead product development, including creating and maintaining rates, rules, and policy forms, collaborating closely with Group Product Heads.
Collaboration & Stakeholder Engagement
Work closely with underwriting leadership and global product heads to ensure consistency and alignment.
Leadership & Talent Development
Coach, lead, and develop a high‑performing underwriting team.
Play a key role in attracting, recruiting, and retaining underwriting talent.
Lead by example, embracing and instilling the cultural milestones of Munich Re Specialty in the local underwriting and broader teams.
Your Profile
Leadership & Strategic Capability: Demonstrated ability in an executive leadership position in a “Head of” role
Strategic and forward‑thinking, with a proven track record in business management, including planning and forecasting
Possesses integrity, credibility and strong commitment to the corporate mission
Market Presence & Industry Influence: Reputation and gravitas to represent Munich Re Specialty in the market
Strong broker network
Proven record of building and maintaining sustainably profitable portfolios
Technical & Analytical Expertise: In‑depth knowledge of exposure and experience rating processes
Strong negotiation skills
People Leadership & Stakeholder Management: Excellent people skills, including stakeholder management
Excellent communication (written, verbal, presentation), interpersonal and networking skills at all organisational levels
10+ years primary insurance underwriting experience
5+ years of people management experience
University degree and/or relevant professional qualification
At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the center of this interaction is each of us.
Your Benefits
With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.
Competitive Salary
We provide fair and competitive compensation that reflects your performance and commitment.
Company performance-based Incentives
In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.
Recognition and Special Rewards
We recognise outstanding individual contributions through a variety of targeted rewards and incentives.
Retirement Planning
We support your long-term financial wellbeing with retirement solutions aligned with local regulations.
Inclusive Workplace Culture
We foster a respectful, inclusive, and values-driven environment.
Learning & Development
We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.
Work-Life-Balance
Supporting your ability to balance family, leisure, and your career.
Health & Wellbeing
We support your physical and mental health through a range of programs and activities in each location.
💡 Quick Summary
Seeking a career-building opportunity? The Head of Property, Construction & Engineering position is now open for candidates interested in the Insurance sector. This role in Sydney offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Insurance is a plus.